Lorenzo Simonelli is an accomplished business executive who serves as the Chairman, President, and Chief Executive Officer (CEO) of Baker Hughes Company, an international energy technology company that provides products, services, and digital solutions to the oil and gas industry. Simonelli has played a crucial role in the company's transformation, focusing on innovation, sustainability, and the expansion of its energy technology offerings.
Early Life and Education: Lorenzo Simonelli was born on May 13, 1974, in Italy. He attended Cardiff University in Wales, United Kingdom, where he earned a Bachelor of Science degree in Business and Economics in 1996.
Career: Before joining Baker Hughes, Lorenzo Simonelli held various leadership positions at General Electric (GE), where he started his career in 1997. Over the years, he took on roles of increasing responsibility within GE, including:
- Executive Audit Manager: Simonelli held this position for several years, gaining experience in GE's global operations and financial systems.
- CFO, GE Consumer and Industrial, Europe: In this role, he was responsible for overseeing financial operations across GE's Consumer and Industrial division in Europe.
- General Manager, GE Consumer and Industrial, Asia: Simonelli led the growth of GE's Consumer and Industrial business in Asia, focusing on expanding the company's presence in the region.
- CEO, GE Transportation: In this capacity, Simonelli managed GE's transportation business, overseeing the development and production of locomotives, marine engines, and mining equipment.
Baker Hughes: In October 2013, Lorenzo Simonelli was appointed President and CEO of GE Oil & Gas, a subsidiary of General Electric. In July 2017, GE Oil & Gas merged with Baker Hughes Inc. to form Baker Hughes, a GE Company (BHGE). Following the merger, Simonelli became President and CEO of the newly combined company.
Under Simonelli's leadership, Baker Hughes has undergone a significant transformation, focusing on innovation, digital solutions, and sustainable technologies in the energy industry. The company has expanded its offerings beyond traditional oil and gas services, exploring new opportunities in areas such as renewable energy, carbon capture, and hydrogen technologies.
In 2019, GE divested its majority stake in Baker Hughes, and the company was renamed Baker Hughes Company. Lorenzo Simonelli continued to serve as the Chairman, President, and CEO of the company following this change.
Leadership Style and Accomplishments: Lorenzo Simonelli is known for his adaptive and forward-thinking leadership style, emphasizing the importance of innovation, sustainability, and diversification in the rapidly changing energy industry. He has been instrumental in leading Baker Hughes through its transition from a traditional oilfield services company to a global energy technology leader.
Under his leadership, Baker Hughes has invested in various renewable and low-carbon technologies, aiming to reduce its environmental impact and help its customers achieve their sustainability goals. The company has set ambitious targets for reducing its own greenhouse gas emissions and has committed to achieving net-zero carbon emissions by 2050.
In summary, Lorenzo Simonelli is an experienced business leader with a strong background in the energy industry. As the Chairman, President, and CEO of Baker Hughes Company, he has successfully guided the organization through a period of change, focusing on innovation, sustainability, and the expansion of its energy technology offerings to meet the evolving needs of the global energy market.
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